WTF HAPPENED IN JUST SECONDS.....
No ship owner is going to send their oil tanker into the Strait until they are sure the fighting is over and that means a bare minimum of 30 days of no fighting and then it will still be another two weeks for the ships to arrive and still another two weeks for them to get back with the oil. That means best case scenario is another two months without oil coming out of the strait. We were told if this conflict went into June it would cause a global economic catastrophe and now we know it is at least going to go through to the end of August.
In addition when you shut down pumping oil in wells they suffer damage. It can require they go back in with a drill and clean it up before reopening the well. The amount of damage is based on how long they are closed, if it is a week you might not have much damage, but if it is three months you are not going to come back online full strength. So even when they do restart the wells it may take another one or two months to return to normal production.
Now the situation in the US is about the best in the world. There are countries that are completely out of oil, there are others like China that oil imports are down 40%. You may think that is no problem, who cares about China, well China just dumped $40 billion worth of US bonds. Other countries are selling gold or US bonds to get oil. Japan, Australia and Singapore are all desperate. Russia, one of the biggest oil exporters is now buying gasoline. This is like a huge wildfire that will engulf the whole globe. We can see the smoke rising, soon the fire will be here in the US.
i have had the same thoughts - if i owned a ocean shipping company, i sure as heck am not sending any ships through there until i am 99% sure that it will not be attacked..





